Luis Suarez does not have a £40 million buy-out clause in his Liverpool contract, contrary to reports, ESPN understands.

It was suggested on Friday that Real Madrid were preparing to activate a clause in the Uruguayan's contract that would secure his release from Anfield, but club chiefs have told reporters that their star striker cannot be purchased for less than the £50 million they recouped from selling Fernando Torres to Chelsea two years ago.

Liverpool officials will do all they can to hold onto Suarez or replace him with a top class striker, but they have hinted that any deal with Real Madrid for the Uruguay international would only be considered if Gonzalo Higuain was included as part of the deal.

Higuain has been strongly linked with a move to Juventus after Real agreed to sell him this summer, but Liverpool hope the offer to become a key figure in the team being built by Brendan Rodgers may tempt him to Merseyside, even though the club will not play in European competition next season.

Suarez claims that no offer has yet been tabled for him and remained open to staying at Anfield, saying: "I don't have any offer yet. I don't know when I will leave - or even if I will finally leave or if I will stay. I don't know what will happen. The club knows what I think and what I want. I don't know what will happen, but I have a contract. If I stay, I will do my best here.

Brendan Rodgers has previously admitted that Suarez could be sold for the right price, although he added that he was not under any pressure to cash in on the player.

The Liverpool manager said: "They [Fenway Sports Group, the club's owner] have been absolutely unequivocal in their resolve in terms of wanting to keep him.

"Every player has their price but there's certainly no pressure on the club to sell him. We're trying to build that bit of quality, so he's not for sale."

Suarez is reportedly wanted by Real Madrid as part of president Florentino Perez's ambitious summer rebuilding plan which could also see Gareth Bale move from Tottenham.